The comeback we’ve been waiting for: Is China finally reasserting its role as the driving force behind global growth?
The International Monetary Fund raised its growth forecasts for China in 2023 and 2024. Domestic demand is also increasing again. Can this save global growth?
Why is this important?
China’s post-Covid-19 recovery has not been as it should have been. However, much of global growth in the coming months will depend on growth in China, while the West suffers from interest rates.Numbers
In the news: Some bright spots in China.
- The International Monetary Fund on Tuesday raised its 2023 GDP forecast for China from 5 percent to 5.4 percent.
- For next year, the IMF still expects a slight slowdown, with growth of 4.6%. However, this is better than the recent forecast of 4.2 percent, due to the slowdown in the global economy, especially in the West, which is still depressed.
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